Home Money Treasury Bills yield trades at 1.6% as bonds average yield inched higher...

Treasury Bills yield trades at 1.6% as bonds average yield inched higher by 1bp to 13.0%

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MON. 06 FEB, 2023-theGBJournal| The Treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 3bps to 1.6%.

Across the curve, the average yield closed flat at the short and long ends but dipped at the mid (-14bps) segment following participants’ interest in the 122DTM (-41bps) bill. Similarly, the average yield contracted by 28bps to 1.7% in the OMO segment.

Elsewhere, the Treasury bond secondary market traded with mixed sentiments, albeit with a bearish tilt, as the average yield inched higher by 1bp to 13.0%.

Across the benchmark curve, the average yield contracted at the short (-4bps) end as investors demanded the MAR-2025 (-37bps) bond, but expanded at the long (+5bps) end due to profit-taking activities on the APR-2037 (+35bps) bond.

Conversely, the average yield was flat at the mid segment.

At the money market, the overnight lending rate contracted by 25bps to 10.8%, in the absence of any significant inflow into the system.

Meanwhile, the naira depreciated by 0.1% to NGN462.17/USD at the I&E window.

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